With a major project backed by the World Bank getting under way and a sizeable budget allocated by the government, Papua New Guinea’s state-run coffee industry has significant potential for expansion in 2012.
Papua New Guinea
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With the mining and agriculture sectors performing well and a major liquefied natural gas (LNG) export project nearing completion, Papua New Guinea (PNG) used 2011 to prepare for an expected resource-related boom over the coming years. Despite some political discord, the country took a number of progressive steps during the year, including the establishment of a sovereign wealth fund (SWF), which was seen as vital for the management of future revenues.
Glowing assessments of Papua New Guinea's economic outlook see natural resource wealth leading growth for this year, with positive implications for the country's broader development. However, external factors threaten to post challenges to a major liquefied natural gas (LNG) project.